Nigerian oil crisis may be prolonged by politics
LAGOS, Feb 19 (Reuters) - World energy markets could face a prolonged shortfall of Nigerian oil supply after militants halted 21 percent of the OPEC nation's exports and kidnapped nine foreigners, analysts and diplomats said on Sunday.
The latest Niger Delta crisis feeds into mounting political instability in Africa's top oil producer ahead of elections next year. "Jockeying in the run-up to Nigeria's presidential elections and swelling violence in the unstable Niger Delta threaten the country's unity and could result in the break-up of the ruling party, damage regional stability and roil global oil markets," said Eurasia Group in a recent research note.
( Full story here )
The latest Niger Delta crisis feeds into mounting political instability in Africa's top oil producer ahead of elections next year. "Jockeying in the run-up to Nigeria's presidential elections and swelling violence in the unstable Niger Delta threaten the country's unity and could result in the break-up of the ruling party, damage regional stability and roil global oil markets," said Eurasia Group in a recent research note.
( Full story here )
posted by Oil Shock at 11:40 PM
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